The annual list ranks U.S. metropolitan areas on how well they are at creating and sustaining jobs, as well as economic growth. Denver-Aurora-Broomfield group of cities was cited at the No. 12 spot, which was up from No. 15 last year. Boulder, CO came in at No. 13.

“The components include job, wage and salary, and technology growth,” the Institute’s report said. “In most years, these give a good indication of the underlying structural performance of regional economics.”

Here’s what Milken had to say about the Denver metro:

“DENVER-AURORA-BROOMFIELD, COLORADO, shows strong one-year employment and wage growth, and has established a large and diverse high-tech sector. However, growth in the sector lagged national performance by more than 2 percent over the past five years.”